Business Segments

6 Months Ended

Jul. 04, 2015

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The following sets forth certain financial information attributable to the Company's reporting segments as of and for the three and six months ended July 4, 2015 and June 28, 2014 (in millions):

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations			Total
As of and for Three Months Ended July 4, 2015
External sales	$	441.0	$	286.1	$	215.1	$	—		$	942.2
Intersegment sales	22.4		5.8		1.2		(29.4		)	—
Total sales	463.4		291.9		216.3		(29.4		)	942.2
Gross profit	113.6		73.0		64.8		—			251.4
Total Operating expenses	72.1		29.3		46.8		—			148.2
Income from operations	41.5		43.7		18.0		—			103.2
Depreciation and amortization	19.3		7.6		15.3		—			42.2
Capital expenditures	12.4		4.1		7.0		—			23.5
Identifiable assets	2,424.8		900.8		1,639.4		—			4,965.0
As of and for Three Months Ended June 28, 2014
External sales	$	479.0	$	303.5	67.9		$	—		$	850.4
Intersegment sales	21.5		4.4		1.5		(27.4		)	—
Total sales	500.5		307.9		69.4		(27.4		)	850.4
Gross profit	124.7		68.4		17.9		—			211.0
Total Operating expenses	77.7		35.3		10.3		—			123.3
Income from operations	47.0		33.1		7.6		—			87.7
Depreciation and amortization	20.4		11.8		3.0		—			35.2
Capital expenditures	14.5		4.8		1.3		—			20.6
Identifiable assets	2,661.9		942.0		195.5		—			3,799.4

	Commercial and Industrial Systems		Climate Solutions		Power Transmission Solutions		Eliminations			Total
As of and for Six Months Ended July 4, 2015
External sales	$	897.4	$	566.5	$	390.0	$	—		$	1,853.9
Intersegment sales	46.3		12.9		2.3		(61.5		)	—
Total sales	943.7		579.4		392.3		(61.5		)	1,853.9
Gross profit	226.5		136.7		109.1		—			472.3
Total Operating expenses	151.7		59.6		94.2		—			305.5
Income from operations	74.8		77.1		14.9		—			166.8
Depreciation and amortization	38.8		14.6		24.7		—			78.1
Capital expenditures	28.1		8.7		7.9		—			44.7
Identifiable assets	2,424.8		900.8		1,639.4		—			4,965.0
As of and for Six Months Ended June 28, 2014
External sales	$	932.5	$	588.6	130.5		$	—		$	1,651.6
Intersegment sales	38.0		8.5		2.5		(49.0		)	—
Total sales	970.5		597.1		133.0		(49.0		)	1,651.6
Gross profit	240.4		131.1		33.9		—			405.4
Total Operating expenses	156.2		71.7		20.1		—			248.0
Income from operations	84.2		59.4		13.8		—			157.4
Depreciation and amortization	38.8		23.3		5.9		—			68.0
Capital expenditures	28.3		10.5		4.1		—			42.9
Identifiable assets	2,661.9		942.0		195.5		—			3,799.4

In the fourth quarter of 2014, the Company reorganized its reportable segments to align with its new management reporting structure and business activities. Prior to this reorganization, the Company was comprised of two reportable segments for financial reporting purposes: Electrical and Mechanical. As a result of this change, the Company is now comprised of three reportable segments: Commercial & Industrial Systems, Climate Solutions and Power Transmission Solutions. Historical financial information has been revised on a basis consistent with these segments.

The Commercial and Industrial Systems segment produces medium and large motors, generators and customer drives, controls and systems. Applications include commercial and industrial equipment, commercial HVAC, pool and spa, standby and critical power and oil and gas systems.

The Climate Solutions segment produces small motors, controls and air moving solutions. Applications include residential and light commercial HVAC, commercial refrigeration and water heaters.

The Power Transmission Solutions segment produces power transmission gearing, hydraulic pump drives, large open gearing and specialty mechanical products. Applications include material handling, industrial equipment, energy and off-road equipment.

The Company evaluates performance based on the segment's income from operations. Corporate costs have been allocated to each segment based on the net sales of each segment. The reported external net sales of each segment are from external customers.